EVERI HOLDINGS INC., 10-Q filed on 5/8/2024
Quarterly Report
v3.24.1.u1
Cover - shares
 3 Months Ended
Mar. 31, 2024
May 03, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2024  
Document Transition Report false  
Entity File Number 001-32622  
Entity Registrant Name EVERI HOLDINGS INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-0723270  
Entity Address, Address Line One 7250 S. Tenaya Way  
Entity Address, Address Line Two Suite 100  
Entity Address, City or Town Las Vegas  
Entity Address, State or Province NV  
Entity Address, Postal Zip Code 89113  
City Area Code 800  
Local Phone Number 833-7110  
Title of 12(b) Security Common Stock, $0.001 par value  
Trading Symbol EVRI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   84,075,849
Entity Central Index Key 0001318568  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q1  
v3.24.1.u1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Total revenues $ 189,346 $ 200,472
Costs and expenses    
Operating Expenses Excluding Depreciation And Amortization 73,614 59,192
Research and development 19,310 16,096
Depreciation 19,951 18,949
Amortization 15,509 14,364
Total costs and expenses 164,594 148,426
Operating income 24,752 52,046
Other expenses    
Interest expense, net of interest income 18,800 17,970
Total other expenses 18,800 17,970
Income before income tax 5,952 34,076
Income tax provision 1,398 6,010
Net income 4,554 28,066
Foreign currency translation loss (1,693) (186)
Comprehensive income $ 2,861 $ 27,880
Earnings per share    
Basic (in dollars per share) $ 0.05 $ 0.32
Diluted (in dollars per share) $ 0.05 $ 0.30
Weighted average common shares outstanding    
Basic (in shares) 83,777 88,355
Diluted (in shares) 87,287 94,781
Games    
Revenues    
Total revenues $ 97,122 $ 107,374
Costs and expenses    
Total cost of revenues [1] 23,575 27,055
Operating Expenses Excluding Depreciation And Amortization 33,352 20,872
Research and development 11,791 10,653
Depreciation 17,299 16,239
Amortization 11,412 10,276
Total costs and expenses 97,429 85,095
Operating income (307) 22,279
Games | Gaming operations    
Revenues    
Total revenues 72,622 75,309
Costs and expenses    
Total cost of revenues [1] 9,515 6,806
Games | Gaming equipment and systems    
Revenues    
Total revenues 24,500 32,065
Costs and expenses    
Total cost of revenues [1] 14,060 20,249
FinTech    
Revenues    
Total revenues 92,224 93,098
Costs and expenses    
Total cost of revenues [1] 12,635 12,770
Operating Expenses Excluding Depreciation And Amortization 40,262 38,320
Research and development 7,519 5,443
Depreciation 2,652 2,710
Amortization 4,097 4,088
Total costs and expenses 67,165 63,331
Operating income 25,059 29,767
FinTech | Financial access services    
Revenues    
Total revenues 57,419 56,214
Costs and expenses    
Total cost of revenues [1] 2,697 2,899
FinTech | Software and other    
Revenues    
Total revenues 25,776 24,215
Costs and expenses    
Total cost of revenues [1] 3,132 1,423
FinTech | Hardware    
Revenues    
Total revenues 9,029 12,669
Costs and expenses    
Total cost of revenues [1] $ 6,806 $ 8,448
[1]
(1) Exclusive of depreciation and amortization.
v3.24.1.u1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 268,617 $ 267,215
Settlement receivables 422,807 441,852
Trade and other receivables, net of allowances for credit losses of $5,233 and $5,210 at March 31, 2024 and December 31, 2023, respectively 107,578 107,933
Inventory 78,583 70,624
Prepaid expenses and other current assets 43,600 43,906
Total current assets 921,185 931,530
Non-current assets    
Property and equipment, net 160,722 152,704
Goodwill 737,147 737,804
Other intangible assets, net 229,376 234,138
Other receivables 33,887 29,015
Deferred tax assets, net 594 598
Other assets 39,679 38,081
Total non-current assets 1,201,405 1,192,340
Total assets 2,122,590 2,123,870
Current liabilities    
Settlement liabilities 641,863 662,967
Accounts payable and accrued expenses 237,869 215,530
Current portion of long-term debt 1,500 6,000
Total current liabilities 881,232 884,497
Non-current liabilities    
Deferred tax liabilities, net 10,379 13,762
Long-term debt, less current portion 967,582 968,465
Other accrued expenses and liabilities 32,102 31,004
Total non-current liabilities 1,010,063 1,013,231
Total liabilities 1,891,295 1,897,728
Commitments and contingencies (Note 12)
Stockholders’ equity    
Convertible preferred stock, $0.001 par value, 50,000 shares authorized and no shares outstanding at March 31, 2024 and December 31, 2023, respectively 0 0
Common stock, $0.001 par value, 500,000 shares authorized and 123,287 and 83,836 shares issued and outstanding at March 31, 2024, respectively, and 123,179 and 83,738 shares issued and outstanding at December 31, 2023, respectively 123 123
Additional paid-in capital 563,334 560,945
Retained earnings 67,285 62,731
Accumulated other comprehensive loss (5,160) (3,467)
Treasury stock, at cost, 39,451 and 39,441 shares at March 31, 2024 and December 31, 2023, respectively (394,287) (394,190)
Total stockholders’ equity 231,295 226,142
Total liabilities and stockholders’ equity $ 2,122,590 $ 2,123,870
v3.24.1.u1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Allowances for doubtful accounts $ 5,233 $ 5,210
Stockholders’ equity    
Convertible preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Convertible preferred stock authorized (in shares) 50,000,000 50,000,000
Convertible preferred stock outstanding (in shares) 0 0
Common stock par value (in dollars per share) $ 0.001 $ 0.001
Common stock authorized (in shares) 500,000,000 500,000,000
Common stock issued (in shares) 123,287,000 123,179,000
Common stock outstanding (in shares) 83,836,000 83,738,000
Treasury stock (in shares) 39,451,000 39,441,000
v3.24.1.u1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 4,554 $ 28,066
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 19,951 18,949
Amortization 15,509 14,364
Non-cash lease expense 1,487 1,317
Amortization of financing costs and discounts 713 713
Loss on sale or disposal of assets 89 134
Accretion of contract rights 2,335 2,335
Provision for credit losses 2,946 3,078
Deferred income taxes (3,353) 1,860
Reserve for inventory obsolescence 426 319
Stock-based compensation 1,942 4,825
Changes in operating assets and liabilities:    
Settlement receivables 18,940 175,988
Trade and other receivables (7,150) (87)
Inventory (8,495) (10,937)
Prepaid expenses and other assets (2,284) (271)
Settlement liabilities (20,991) (193,698)
Accounts payable and accrued expenses 28,507 (15,247)
Net cash provided by operating activities 55,126 31,708
Cash flows from investing activities    
Capital expenditures (42,744) (29,821)
Proceeds from sale of property and equipment 68 67
Net cash used in investing activities (42,676) (29,754)
Cash flows from financing activities    
Repayments of term loan (6,000) (6,000)
Proceeds from exercise of stock options 447 5,233
Treasury stock - equity award activities, net of shares withheld (97) (333)
Payment of deferred acquisition consideration (4,301) (47)
Net cash used in financing activities (9,951) (1,147)
Effect of exchange rates on cash and cash equivalents (960) (167)
Cash, cash equivalents and restricted cash    
Net increase for the period 1,539 640
Balance, beginning of the period 272,506 295,063
Balance, end of the period 274,045 295,703
Supplemental cash disclosures    
Cash paid for interest 27,397 25,051
Cash (refunded) paid for income tax, net (83) 465
Supplemental non-cash disclosures    
Accrued and unpaid capital expenditures 3,362 2,551
Transfer of leased gaming equipment to inventory $ 1,116 $ 1,809
v3.24.1.u1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings/Accumulated Deficit
Accumulated Other Comprehensive Loss
Treasury Stock
Balance, beginning of period (in shares) at Dec. 31, 2022   119,390        
Balance, beginning of period at Dec. 31, 2022 $ 217,641 $ 119 $ 527,465 $ (21,266) $ (4,197) $ (284,480)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 28,066     28,066    
Foreign currency translation (186)       (186)  
Stock-based compensation expense 4,825   4,825      
Exercise of options (in shares)   702        
Exercise of options 5,234 $ 1 5,233      
Restricted share vesting and withholding (in shares)   53        
Restricted stock vesting, net of shares withheld (333)         (333)
Balance, end of period (in shares) at Mar. 31, 2023   120,145        
Balance, end of period at Mar. 31, 2023 $ 255,247 $ 120 537,523 6,800 (4,383) (284,813)
Balance, beginning of period (in shares) at Dec. 31, 2023 83,738 123,179        
Balance, beginning of period at Dec. 31, 2023 $ 226,142 $ 123 560,945 62,731 (3,467) (394,190)
Increase (Decrease) in Stockholders' Equity            
Net income (loss) 4,554     4,554    
Foreign currency translation (1,693)       (1,693)  
Stock-based compensation expense 1,942   1,942      
Exercise of options (in shares)   81        
Exercise of options 447   447      
Restricted share vesting and withholding (in shares)   27        
Restricted stock vesting, net of shares withheld $ (97)         (97)
Balance, end of period (in shares) at Mar. 31, 2024 83,836 123,287        
Balance, end of period at Mar. 31, 2024 $ 231,295 $ 123 $ 563,334 $ 67,285 $ (5,160) $ (394,287)
v3.24.1.u1
BUSINESS
 3 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BUSINESS BUSINESS
Everi Holdings Inc. (“Everi Holdings,” or “Everi”) is a holding company, the assets of which are the issued and outstanding shares of capital stock of each of Everi Payments Inc. (“Everi FinTech” or “FinTech”) and Everi Games Holding Inc., which owns all of the issued and outstanding shares of capital stock of Everi Games Inc. (“Everi Games” or “Games”). Unless otherwise indicated, the terms the “Company,” “we,” “us,” and “our” refer to Everi Holdings together with its consolidated subsidiaries.
Everi develops and offers products and services that provide gaming entertainment, improve our customers’ patron engagement, and help our casino customers operate their businesses more efficiently. We develop and supply entertaining game content, gaming machines and gaming systems and services for land-based and iGaming operators. Everi is a provider of financial technology solutions that power casino floors, provide operational efficiencies, and help fulfill regulatory requirements. The Company also develops and supplies player loyalty tools and mobile-first applications that enhance patron engagement for our customers and venues in the casino, sports, entertainment and hospitality industries. In addition, the Company provides bingo solutions through its consoles, electronic gaming tablets and related systems.
Everi reports its financial performance, and organizes and manages its operations, across the following two business segments: (i) Games and (ii) Financial Technology Solutions (“FinTech”).
Everi Games provides gaming operators with gaming technology and entertainment products and services, including: (i) gaming machines, primarily comprising Class II, Class III and Historic Horse Racing (“HHR”) slot machines placed under participation and fixed-fee lease arrangements or sold to casino customers; (ii) providing and maintaining the central determinant systems for the video lottery terminals (“VLTs”) installed in the State of New York and similar technology in certain tribal jurisdictions; (iii) business-to-business (“B2B”) digital online gaming activities; and (iv) bingo solutions through consoles, integrated electronic gaming tablets and related systems.
Everi FinTech provides gaming operators with financial technology products and services, including: (i) financial access and related services supporting digital, cashless and physical cash options across mobile, assisted and self-service channels; (ii) loyalty and marketing software and tools, regulatory and compliance (“RegTech”) software solutions, other information-related products and services, and hardware maintenance services; and (iii) associated casino patron self-service hardware that utilizes our financial access, software and other services. We also develop and offer mobile-first applications aimed at enhancing patron engagement for customers in the casino, sports, entertainment, and hospitality industries. Our solutions are secured using an end-to-end security suite to protect against cyber-related attacks, allowing us to maintain appropriate levels of security. These solutions include: access to cash and cashless funding at gaming facilities via Automated Teller Machine (“ATM”) debit withdrawals, credit card financial access transactions, and point of sale (“POS”) debit card purchases at casino cages, kiosk and mobile POS devices; accounts for the CashClub Wallet, check warranty services, self-service loyalty and fully integrated kiosk maintenance services; self-service loyalty tools and promotion management software; compliance, audit, and data software; casino credit data and reporting services; marketing and promotional offering subscription-based services; and other ancillary offerings.
v3.24.1.u1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
Our Financial Statements included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Some of the information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary for a fair statement of results for the interim periods have been made. The results for the three months ended March 31, 2024 are not necessarily indicative of results to be expected for the full fiscal year. The Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the most recently filed Annual Report on Form 10-K for the year ended December 31, 2023 (the “Annual Report”).
Restricted Cash
Our restricted cash primarily consists of: (i) funds held in connection with certain customer agreements; (ii) funds held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”)-related restricted funds; and (iv) financial access activities related to cashless balances held on behalf of patrons. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Balance Sheets that sum to the total of the same such amounts shown in the Statements of Cash Flows for the three months ended March 31, 2024 (in thousands).
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Cash and cash equivalentsCash and cash equivalents$268,617 $267,215 
Restricted cash - currentPrepaid expenses and other current assets5,327 5,190 
Restricted cash - non-currentOther assets101 101 
Total$274,045 $272,506 
Fair Values of Financial Instruments
The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are made at a specific point in time, based upon relevant market information about the financial instrument.
The carrying amount of cash and cash equivalents, restricted cash, settlement receivables, short-term trade and other receivables, settlement liabilities, accounts payable, and accrued expenses approximate fair value due to the short-term maturities of these instruments. The fair value of the long-term trade and loans receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. The fair value of long-term accounts payable is estimated by discounting the total obligation. As of March 31, 2024 and December 31, 2023, the fair value of trade and loans receivable approximated the carrying value due to contractual terms generally being slightly over 12 months. The fair value of our borrowings is estimated based on various inputs to determine a market price, such as: market demand and supply, size of tranche, maturity, and similar instruments trading in more active markets.
The estimated fair value and outstanding balances of our borrowings are as follows (in thousands):
 Level of HierarchyFair ValueOutstanding Balance
March 31, 2024   
$600 million Term Loan
2$583,040 $580,500 
$400 million Unsecured Notes
2$395,500 $400,000 
December 31, 2023   
$600 million Term Loan
2$589,433 $586,500 
$400 million Unsecured Notes
2$365,000 $400,000 
The fair values of our borrowings were determined using Level 2 inputs based on quoted market prices for these securities.
Reclassification of Balances
Certain amounts in the accompanying Financial Statements have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on net income for the prior periods.
Recent Accounting Guidance
Recently Adopted Accounting Guidance
None.
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
The amendments in this update require enhanced reportable segment disclosures, primarily concerning significant segment expenses.
December 31, 2024
We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures; however, we do not expect the impact to be material.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
January 1, 2025
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
As of March 31, 2024, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our Financial Statements.
v3.24.1.u1
REVENUES
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Overview
We evaluate the recognition of revenue based on the criteria set forth in Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers and ASC 842 — Leases, as appropriate. We recognize revenue upon transferring control of goods or services to our customers in an amount that reflects the consideration we expect to receive in exchange for those goods or services. We enter into contracts with customers that include various performance obligations consisting of goods, services, or combinations of goods and services. Timing of the transfer of control varies based on the nature of the contract. We recognize revenue net of any sales and other taxes collected from customers, which are subsequently remitted to governmental authorities and are not included in revenues or operating expenses. We measure revenue based on the consideration specified in a contract with a customer and adjusted, as necessary.
Disaggregation of Revenues
We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 17 — Segment Information.”
Contract Balances
Since our contracts may include multiple performance obligations, there is often a timing difference between cash collections and the satisfaction of such performance obligations and revenue recognition. Such arrangements are evaluated to determine whether contract assets and liabilities exist. We generally record contract assets when the timing of billing differs from when revenue is recognized due to contracts containing specific performance obligations that are required to be met prior to a customer being invoiced. We generally record contract liabilities when cash is collected in advance of us satisfying performance obligations, including those that are satisfied over a period of time. Balances of our contract assets and contract liabilities may fluctuate due to timing of cash collections.
The following table summarizes our contract assets and contract liabilities arising from contracts with customers (in thousands):
20242023
Contract assets(1)
Balance, beginning of period$26,635 $22,417 
Balance, end of period31,298 22,342 
         Increase (decrease)$4,663 $(75)
Contract liabilities(2)
Balance, beginning of period$51,799 $53,419 
Balance, end of period56,241 51,705 
         Increase (decrease)$4,442 $(1,714)
(1) Contract assets are included within trade and other receivables, net and other receivables in our Balance Sheets.
(2) Contract liabilities are included within accounts payable and accrued expenses and other accrued expenses and liabilities in our Balance Sheets.
We recognized approximately $15.9 million and $18.2 million in revenue that was included in the beginning contract liabilities balance during the three months ended March 31, 2024 and 2023, respectively.
Games Revenues
Our products and services include electronic gaming devices, such as Native American Class II offerings and other electronic bingo products, Class III slot machine offerings, HHR offerings, integrated electronic bingo gaming tablets, VLTs installed in the State of New York and similar technology in certain tribal jurisdictions, B2B digital online gaming activities, accounting and central determinant systems, and other back-office systems. We conduct our Games segment business based on results generated from the following major revenue streams: (i) Gaming Operations; and (ii) Gaming Equipment and Systems.
We recognize our Gaming Operations revenue based on criteria set forth in ASC 842 or ASC 606, as applicable. The amount of lease revenue included in our Gaming Operations revenues and recognized under ASC 842 was approximately $46.4 million and $49.4 million for the three months ended March 31, 2024 and 2023, respectively.
FinTech Revenues
Our FinTech products and services include solutions that we offer to gaming establishments to provide their patrons with financial access and funds-based services supporting digital, cashless and physical cash options across mobile, assisted and self-service channels along with related loyalty and marketing tools, and other information-related products and services. We also develop and offer mobile-first applications aimed at enhancing patron engagement for customers in the casino, sports, entertainment, and hospitality industries. In addition, our services operate as part of an end-to-end security suite to protect against cyber-related attacks, allowing us to maintain appropriate levels of security. These solutions include: access to cash and cashless funding at gaming facilities via ATM debit withdrawals, credit card financial access transactions, and POS debit card purchases at casino cages, kiosk and mobile POS devices; accounts for the CashClub Wallet, check warranty services, self-service loyalty and fully integrated kiosk maintenance services; self-service loyalty tools and promotion management software; compliance, audit, and data software; casino credit data and reporting services; marketing and promotional offering subscription-based services; and other ancillary offerings. We conduct our FinTech segment business based on results generated from the following major revenue streams: (i) Financial Access Services; (ii) Software and Other; and (iii) Hardware.
Hardware revenues are derived from the sale of our financial access and loyalty kiosks and related equipment and are accounted for under ASC 606, unless such transactions meet the definition of a sales type or direct financing lease, which are accounted for under ASC 842. We did not have any significant financial access kiosk and related equipment sales contracts accounted for under ASC 842 during the three months ended March 31, 2024 and 2023.
v3.24.1.u1
LEASES
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
LEASES LEASES
Lessee
Supplemental balance sheet information related to our operating leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Assets
Operating lease right-of-use assets
Other assets, non-current$26,653 $27,489 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,362 $7,079 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$25,973 $26,930 
Supplemental cash flow information related to leases is as follows (in thousands):
Three Months Ended March 31,
20242023
Cash paid for:
Long-term operating leases$1,839 $1,712 
Short-term operating leases$554 $372 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$671 $86 
Other information related to lease terms and discount rates is as follows:
At March 31, 2024At December 31, 2023
Weighted Average Remaining Lease Term (in years):
Operating leases6.646.71
Weighted Average Discount Rate:
Operating leases6.15 %6.08 %
Components of lease expense are as follows (in thousands):
Three Months Ended March 31,
20242023
Operating Lease Cost:
Operating lease cost
$1,952 $1,477 
Variable lease cost $340 $319 
Maturities of lease liabilities are summarized as follows as of March 31, 2024 (in thousands):

Year Ending December 31, Amount
2024 (excluding the three months ended March 31, 2024)
$7,124 
2025
8,845 
2026
5,281 
2027
3,217 
2028
2,813 
Thereafter14,520 
Total future minimum lease payments 41,800 
Less: Amount representing interest 8,465 
Present value of future minimum lease payments33,335 
Less: Current operating lease obligations7,362 
Long-term lease obligations$25,973 
Lessor
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$821 $810 
LEASES LEASES
Lessee
Supplemental balance sheet information related to our operating leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Assets
Operating lease right-of-use assets
Other assets, non-current$26,653 $27,489 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,362 $7,079 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$25,973 $26,930 
Supplemental cash flow information related to leases is as follows (in thousands):
Three Months Ended March 31,
20242023
Cash paid for:
Long-term operating leases$1,839 $1,712 
Short-term operating leases$554 $372 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$671 $86 
Other information related to lease terms and discount rates is as follows:
At March 31, 2024At December 31, 2023
Weighted Average Remaining Lease Term (in years):
Operating leases6.646.71
Weighted Average Discount Rate:
Operating leases6.15 %6.08 %
Components of lease expense are as follows (in thousands):
Three Months Ended March 31,
20242023
Operating Lease Cost:
Operating lease cost
$1,952 $1,477 
Variable lease cost $340 $319 
Maturities of lease liabilities are summarized as follows as of March 31, 2024 (in thousands):

Year Ending December 31, Amount
2024 (excluding the three months ended March 31, 2024)
$7,124 
2025
8,845 
2026
5,281 
2027
3,217 
2028
2,813 
Thereafter14,520 
Total future minimum lease payments 41,800 
Less: Amount representing interest 8,465 
Present value of future minimum lease payments33,335 
Less: Current operating lease obligations7,362 
Long-term lease obligations$25,973 
Lessor
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$821 $810 
v3.24.1.u1
BUSINESS COMBINATIONS
 3 Months Ended
Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]  
BUSINESS COMBINATIONS BUSINESS COMBINATIONS
We account for business combinations in accordance with ASC 805 — Business Combinations, which requires that the identifiable assets acquired and liabilities assumed be recorded at their estimated fair values on the acquisition date separately from goodwill, which is the excess of the fair value of the purchase price over the fair values of these identifiable assets and liabilities. We include the results of operations of an acquired business starting from the acquisition date.

Pending Proposed Merger

On February 28, 2024, the Company entered into definitive agreements with International Game Technology PLC (“IGT”) pursuant to which IGT agreed to spin-off a newly created subsidiary, which will own IGT’s Global Gaming and PlayDigital businesses, with the Company acquiring the Global Gaming and PlayDigital businesses in a series of transactions (the “Proposed Transaction”). Upon the closing of the Proposed Transaction, under the terms of the agreements, IGT shareholders are expected to own approximately 54% of the combined company, with the Company’s existing stockholders expected to own approximately 46% of the combined company. We incurred transaction costs of approximately $14.4 million and employee retention costs of approximately $1.3 million during the first quarter of 2024, which are included within Operating Expenses of our Statements of Operations.

On February 28, 2024, the Company and Ignite Rotate LLC, a subsidiary of IGT (“Spinco”), entered into a debt commitment letter and related letters with the lenders specified therein. On March 29, 2024, the Company and Spinco entered into an amended and restated debt commitment letter and related amended and restated letters (as amended, the “Commitment Letter”), pursuant to which the lenders committed to provide the Company and such subsidiary with up to $3.7 billion, together with a revolver of $0.8 billion, used to refinance the existing debt of the Company and its subsidiaries, and distribute funds to IGT, with the remainder to be used to pay the combined company’s fees, costs and expenses in connection with the Proposed Transaction, subject to the satisfaction of certain customary closing conditions including the consummation of the Proposed Transaction described above.

eCash Holdings Pty Limited
On March 1, 2022 (the “eCash Closing Date”), the Company acquired the stock of eCash Holdings Pty Limited (“eCash”). Under the terms of the stock purchase agreement, we paid the seller AUD$20 million (approximately USD$15 million) on the eCash Closing Date, additional consideration of AUD$5.0 million (USD$3.4 million) approximately one year following the eCash Closing Date and additional consideration of AUD$6.5 million (USD$4.2 million) approximately two years following the eCash Closing Date. In addition, we paid approximately AUD$8.7 million (USD$6.0 million) for the excess net working capital during the second quarter of 2022. We finalized our measurement period adjustments and recorded approximately $2.3 million primarily related to deferred taxes during the first quarter of 2023. The acquisition did not have a significant impact on our results of operations or financial condition.
Intuicode Gaming Corporation
On April 30, 2022 (the “Intuicode Closing Date”), the Company acquired the stock of Intuicode Gaming Corporation (“Intuicode”), a privately owned game development and engineering firm focused on HHR games. Under the terms of the stock purchase agreement, we paid the seller $12.5 million on the Intuicode Closing Date of the transaction, a net working capital payment of $1.6 million during the second quarter of 2022 and $6.4 million based on the
achievement of a certain revenue target one year following the Intuicode Closing Date. In addition, we expect to make a final payment of $2.6 million based on the achievement of a certain revenue target approximately two years following the Intuicode Closing Date. We finalized our measurement period adjustments and recorded approximately $1.3 million primarily related to the final payment and deferred taxes during the second quarter of 2023.
The fair value of the contingent consideration was based on Level 3 inputs utilizing a discounted cash flow methodology. The estimates and assumptions included projected future revenues of the acquired business and a discount rate of approximately 5%. Contingent consideration to be paid is comprised of a short-term component that is recorded in accounts payable and accrued expenses in our Balance Sheets. The change in fair value of the contingent consideration during the period ended March 31, 2024 was not material.
Venuetize, Inc.

On October 14, 2022 (the “Venuetize Closing Date”), the Company acquired certain strategic assets of Venuetize, Inc. (“Venuetize”), a privately owned innovator of mobile-first technologies that provide an advanced guest engagement and m-commerce platform for the sports, entertainment and hospitality industries. Under the terms of the asset purchase agreement, we paid the seller $18.2 million on the Venuetize Closing Date of the transaction and an immaterial amount twelve-months following the Venuetize Closing Date that was netted against a net working capital receivable of approximately $1.0 million. In addition, we expect to pay approximately $1.8 million in contingent consideration based upon the achievement of certain revenue targets on the twenty-four month and thirty-month anniversaries of the Venuetize Closing Date. We finalized our measurement period adjustments and recorded approximately $1.2 million primarily related to the net working capital receivable and deferred taxes during the fourth quarter of 2023. The acquisition did not have a significant impact on our results of operations or financial condition.

The fair value of the contingent consideration was based on Level 3 inputs utilizing a discounted cash flow methodology. The estimates and assumptions included projected future revenues of the acquired business and a discount rate of approximately 7%. Contingent consideration to be paid is comprised of a short-term component that is recorded in accounts payable and accrued expenses and a long-term component payable within two years recorded in other accrued expenses and liabilities in our Balance Sheets. The change in fair value of the contingent consideration during the period ended March 31, 2024 was not material.

VKGS LLC

On May 1, 2023 (the “Video King Closing Date”), the Company acquired certain strategic assets of VKGS LLC (“Video King”), a privately owned leading provider of integrated electronic bingo gaming tablets, video gaming content, instant win games and systems. Under the terms of the purchase agreement, we paid the seller approximately $61.0 million, inclusive of a net working capital payment on the Video King Closing Date. We also made an additional net working capital payment of $0.3 million post-closing, early in the third quarter of 2023. In addition, we expect to pay approximately $0.2 million related to an indemnity holdback, which is scheduled for release on the eighteen-month anniversary of the Video King Closing Date. We finalized our measurement period adjustments and recorded an immaterial amount related to deferred taxes during the quarter ended March 31, 2024. The acquisition did not have a significant impact on our results of operations or financial condition.

Pro-forma financial information (unaudited)

The acquisition related to Video King occurred during fiscal 2023; therefore, it is included in our Financial Statements for the three months ended March 31, 2024.

The unaudited pro forma financial data on a consolidated basis, including the historical operating results of the Company, as if the Video King acquisition occurred on January 1, 2023, reflected revenue of approximately $207.4 million and net income of approximately $27.9 million for the three months ended March 31, 2023.

The acquisitions related to eCash, Intuicode and Venuetize occurred during fiscal 2022; therefore, each are included in our Financial Statements for the three months ended March 31, 2024 and 2023, respectively.
The unaudited pro forma results include increases to depreciation and amortization expense based on the purchased intangible assets and costs directly attributable to the acquisitions. The unaudited pro forma results do not purport to be indicative of results of operations as of the date hereof, for any period ended on the date hereof, or for any other future date or period; nor do they give effect to synergies, cost savings, fair market value adjustments and other changes expected as a result of the acquisitions.
v3.24.1.u1
FUNDING AGREEMENTS
 3 Months Ended
Mar. 31, 2024
A T M Funding Agreement Disclosure [Abstract]  
FUNDING AGREEMENTS FUNDING AGREEMENTS
We have commercial arrangements with third-party vendors to provide cash for certain of our fund dispensing devices. For the use of these funds, we pay a usage fee on either the average daily balance of funds utilized multiplied by a contractually defined usage rate or the amounts supplied multiplied by a contractually defined usage rate. These fund usage fees, reflected as interest expense within the Statements of Operations, were approximately $4.8 million and $4.3 million for the three months ended March 31, 2024 and 2023, respectively. We are exposed to interest rate risk to the extent that the applicable rates increase.
Under these agreements, the currency supplied by third party vendors remain their sole property until the funds are dispensed. As these funds are not our assets, supplied cash is not reflected in our Balance Sheets.
Our primary commercial arrangement, the Contract Cash Solutions Agreement, as amended, is with Wells Fargo, N.A. (“Wells Fargo”). Wells Fargo provides us with cash up to $450 million with the ability to increase the amount permitted by the vault cash provider. The term of the agreement expires on December 1, 2026 and will automatically renew for additional one-year periods unless either party provides a ninety-day written notice of its intent not to renew. The outstanding balance of funds provided in connection with this arrangement were approximately $319.3 million and $388.5 million as of March 31, 2024 and December 31, 2023, respectively.
We are responsible for losses of cash in the fund dispensing devices under this agreement, and we self-insure for this type of risk. There were no material losses for the three months ended March 31, 2024 and 2023, respectively.
v3.24.1.u1
TRADE AND OTHER RECEIVABLES
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
TRADE AND OTHER RECEIVABLES TRADE AND OTHER RECEIVABLES
Trade and other receivables represent short-term credit granted to customers and long-term loans receivable in connection with our Games and FinTech equipment and software, and compliance products. Trade and loans receivable generally do not require collateral.
The balance of trade and loans receivable consists of outstanding balances owed to us by gaming operators. Other receivables include income tax receivables and other miscellaneous receivables.
The balance of trade and other receivables consisted of the following (in thousands):
 At March 31,At December 31,
20242023
Trade and other receivables, net  
Games trade and loans receivable$62,083 $66,044 
FinTech trade and loans receivable
44,124 39,795 
Contract assets(1)
31,298 26,635 
Other receivables3,960 4,474 
Total trade and other receivables, net141,465 136,948 
Non-current portion of receivables  
Games trade and loans receivable710 480 
FinTech trade and loans receivable
17,623 15,551 
Contract assets(1)
15,554 12,984 
Total non-current portion of receivables33,887 29,015 
Total trade and other receivables, current portion$107,578 $107,933 
(1) Refer to “Note 3 — Revenues” for a discussion on the contract assets.
Allowance for Credit Losses
The activity in our allowance for credit losses for the three months ended March 31, 2024 and 2023 is as follows (in thousands):
Three Months Ended March 31,
20242023
Beginning allowance for credit losses$(5,210)$(4,855)
Provision(2,946)(3,078)
Charge-offs, net of recoveries2,923 2,738 
Ending allowance for credit losses$(5,233)$(5,195)
v3.24.1.u1
INVENTORY
 3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
INVENTORY INVENTORY
Our inventory primarily consists of component parts as well as work-in-progress and finished goods. The cost of inventory includes cost of materials, labor, overhead and freight, and is accounted for using the first in, first out method. The inventory is stated at the lower of cost or net realizable value.
Inventory consisted of the following (in thousands):
 At March 31,At December 31,
 20242023
Inventory  
Component parts$64,774 $59,632 
Work-in-progress1,903 1,147 
Finished goods11,906 9,845 
Total inventory$78,583 $70,624 
v3.24.1.u1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
Property and equipment consist of the following (in thousands):
  At March 31, 2024At December 31, 2023
Useful Life
(Years)		CostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Property and equipment       
Rental pool - deployed
2-5
$298,714 $203,248 $95,466 $308,438 $218,110 $90,328 
Rental pool - undeployed
2-5
46,114 34,017 12,097 39,578 29,770 9,808 
FinTech equipment
1-5
32,302 22,364 9,938 32,719 21,911 10,808 
Leasehold and building improvements
Lease Term
19,749 5,364 14,385 19,271 4,887 14,384 
Machinery, office, and other equipment
1-5
67,300 38,464 28,836 63,857 36,481 27,376 
Total $464,179 $303,457 $160,722 $463,863 $311,159 $152,704 
Depreciation expense related to property and equipment totaled approximately $20.0 million and $18.9 million for the three months ended March 31, 2024 and 2023, respectively.
v3.24.1.u1
GOODWILL AND OTHER INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired plus liabilities assumed arising from business combinations. The balance of goodwill was approximately $737.1 million and $737.8 million at March 31, 2024 and December 31, 2023, respectively. We have the following reporting units: (i) Games; (ii) Financial Access Services; (iii) Kiosk Sales and Services; (iv) Central Credit Services; (v) Compliance Sales and Services; (vi) Loyalty Sales and Services; and (vii) Mobile Technologies.
Other Intangible Assets
Other intangible assets consist of the following (in thousands):
  At March 31, 2024At December 31, 2023
Useful Life
(Years)		CostAccumulated
Amortization		Net Book
Value		CostAccumulated
Amortization		Net Book
Value
Other intangible assets       
Contract rights under placement fee agreements
2-7
$57,821 $23,927 $33,894 $57,821 $21,592 $36,229 
Customer relationships
3-14
337,292 261,025 76,267 337,829 255,972 81,857 
Developed technology and software
1-7
465,925 349,270 116,655 453,453 340,286 113,167 
Patents, trademarks, and other
2-18
24,779 22,219 2,560 24,783 21,898 2,885 
Total$885,817 $656,441 $229,376 $873,886 $639,748 $234,138 
Amortization expense related to other intangible assets was approximately $15.5 million and $14.4 million for the three months ended March 31, 2024 and 2023, respectively.
v3.24.1.u1
LONG-TERM DEBT
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
The following table summarizes our indebtedness (in thousands):
 MaturityInterestAt March 31,At December 31,
 DateRate20242023
Long-term debt  
$600 million Term Loan
2028
SOFR+2.50%
$580,500 $586,500 
$125 million Revolver
2026
SOFR+2.50%
— — 
Senior Secured Credit Facilities580,500 586,500 
$400 million Unsecured Notes
20295.00%400,000 400,000 
Total debt980,500 986,500 
Debt issuance costs and discount(11,418)(12,035)
Total debt after debt issuance costs and discount
969,082 974,465 
Current portion of long-term debt(1,500)(6,000)
Total long-term debt, net of current portion$967,582 $968,465 
Credit Facilities
Our senior secured credit facilities consist of: (i) a seven-year $600 million senior secured term loan due 2028 issued at 99.75% of par (the “Term Loan”); and (ii) a $125 million senior secured revolving credit facility due 2026, which was undrawn at closing (the “Revolver” and together with the Term Loan, the “Credit Facilities”). The Company, as borrower, entered into the credit agreement dated as of August 3, 2021 (the “Closing Date”), among the Company, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and a letter of credit issuer (the “Original Credit Agreement”).
On June 23, 2023, the Company entered into the first amendment (the “Amendment”) to the Original Credit Agreement (as amended, the “Amended Credit Agreement”), among Everi, as borrower, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and letter of credit issuer. Under the Amended Credit Agreement, the Secured Overnight Financing Rate (“SOFR”) replaced the Eurodollar Rate for all purposes under the Original Credit Agreement and under any other Loan Document (as defined therein) on July 1, 2023, when the ICE Benchmark Administration ceased to provide all available tenors of the Eurodollar Rate. In connection with such implementation of SOFR, the Company and Jefferies Finance LLC agreed to make conforming changes to the relevant provisions of the Original Credit Agreement, as reflected in the Amended Credit Agreement.
On November 2, 2023, the Company entered into the second amendment (the “Second Amendment”), effective November 9, 2023, to the Original Credit Agreement and the Amended Credit Agreement (as amended, the “Credit Agreement”), among Everi, as borrower, the lenders party thereto and Jefferies Finance LLC, as administrative agent, collateral agent, swing line lender and letter of credit issuer. Under the Amended Credit Agreement, capitalized terms not otherwise defined in this Second Amendment have the same meanings as specified in the Original Credit Agreement or the Amended Credit Agreement, as the context may require; and pursuant to the Amended Credit Agreement, the Borrower and the Administrative Agent jointly identified certain obvious errors of a technical nature in the Amended Credit Agreement and have agreed to amend the Amended Credit Agreement to correct such errors.
The interest rate per annum applicable to the Credit Facilities will be, at the Company’s option, either the SOFR rate with a 0.50% floor plus a margin of 2.50%, or the base rate plus a margin of 1.50%. In addition, we pay a SOFR adjustment recorded as interest expense that varies for the applicable interest period, with an adjustment of 0.1% for interest periods of one month, an adjustment of 0.3% for interest periods of two months and an adjustment of 0.4% for interest periods of three months. Our Revolver remained fully undrawn as of March 31, 2024.
The weighted average interest rate on the Term Loan was 7.95% for the three months ended March 31, 2024.
Senior Unsecured Notes
Our senior unsecured notes (the “2029 Unsecured Notes”) had an outstanding balance of $400.0 million as of March 31, 2024 that accrues interest at a rate of 5.00% per annum and is payable semi-annually in arrears on each January 15 and July 15.
Compliance with Debt Covenants
We were in compliance with the covenants and terms of the Credit Facilities and the 2029 Unsecured Notes as of March 31, 2024.
v3.24.1.u1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
We are involved in various legal proceedings in the ordinary course of our business. While we believe resolution of the claims brought against us, both individually and in the aggregate, will not have a material adverse impact on our financial condition or results of operations, litigation of this nature is inherently unpredictable. Our views on these legal proceedings, including those described below, may change in the future. We intend to vigorously defend against these actions, and ultimately believe we should prevail.
Legal Contingencies
We evaluate matters and record an accrual for legal contingencies when it is both probable that a liability has been incurred and the amount or range of the loss may be reasonably estimated. We evaluate legal contingencies at least quarterly and, as appropriate, establish new accruals or adjust existing accruals to reflect: (i) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings, and other relevant events and developments; (ii) the advice and analyses of counsel; and (iii) the assumptions and judgment of management. Legal costs associated with such proceedings are expensed as incurred. Due to the inherent uncertainty of legal proceedings as a result of the procedural, factual, and legal issues involved, the outcomes of our legal contingencies could result in losses in excess of amounts we have accrued.
NRT matter:
NRT Technology Corp., et al. v. Everi Holdings Inc., et al. is a civil action filed on April 30, 2019 against Everi Holdings and Everi FinTech in the United States District Court for the District of Delaware by NRT Technology Corp. and NRT Technology, Inc., alleging monopolization of the market for unmanned, integrated kiosks in violation of federal antitrust laws, fraudulent procurement of patents on functionality related to such unmanned, integrated kiosks and sham litigation related to prior litigation brought by Everi FinTech (operating as Global Cash Access Inc.) against the plaintiff entities. The plaintiffs are seeking compensatory damages, treble damages, and injunctive and declaratory relief. Discovery is closed. The court removed the case from the September trial calendar and requested briefs from the parties on relevant legal issues. Briefing was completed in December 2022. The parties are awaiting further guidance from the court. Due to the current stage of the litigation, we are unable to estimate the probability of the outcome of this matter or reasonably estimate the range of possible damages, if any.
Zenergy Systems, LLC matter:
Zenergy Systems, LLC v. Everi Payments Inc. is a civil action filed on May 29, 2020, against Everi FinTech in the United States District Court for the District of Nevada, Clark County by Zenergy Systems, LLC, alleging breach of contract, breach of a non-disclosure agreement, conversion, breach of the covenant of good faith and fair dealing, and breach of a confidential relationship related to a contract with Everi FinTech that expired in November 2019. The plaintiff is seeking compensatory and punitive damages. Everi FinTech has counterclaimed against Zenergy alleging breach of contract, breach of implied covenant of good faith and fair dealing, and for declaratory relief. The parties participated in mediation on March 21, 2023. No settlement was reached at mediation. The parties filed a joint motion to set a firm trial date which the court granted. The case is set for trial on the court’s May 28, 2025 trial calendar. Due to the current stage of the litigation, we are unable to estimate the probability of the outcome of this matter or reasonably estimate the range of possible damages, if any.
Mary Parrish matter:
Mary Parrish v. Everi Holdings Inc., et al. is a civil action filed on December 28, 2021, against Everi Holdings and Everi FinTech in the District Court of Nevada, Clark County by Mary Parrish alleging violation of the Fair and Accurate Credit Transactions Act (FACTA) amendment to the Fair Credit Reporting Act (FCRA). Plaintiff’s complaint alleges she received a printed receipt for cash access services performed at an Everi Payments’ ATM which displayed more than four (4) digits of the account number. Plaintiff seeks statutory damages, punitive damages, injunctive relief, attorneys’ fees, and other relief. Everi filed a Petition for Removal to the United States District Court, District of Nevada. On May 4, 2023, the United States District Court entered an order remanding the case and the matter is now pending in the District Court of Nevada, Clark County. On October 20, 2023, the Clark County Court entered an Order denying Everi’s Motion to Dismiss. Thereafter, Everi filed a Petition for Writ of Mandamus with the Nevada Supreme Court appealing the Clark County court’s ruling. On December 15, 2023, the Nevada Supreme Court denied Everi’s Petition for Writ of Mandamus. The case is set for trial on the court’s January 6, 2025, trial calendar. Discovery is underway. Due to the current stage of the litigation, we are unable to estimate the probability of the outcome of this matter or reasonably estimate the range of possible damages, if any.
In addition, we have commitments with respect to certain lease obligations discussed in “Note 4 — Leases” and installment payments under our asset purchase agreements discussed in “Note 5 — Business Combinations.”
v3.24.1.u1
STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2024
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
On May 3, 2023, our Board of Directors authorized and approved a share repurchase program in an amount not to exceed $180 million, pursuant to which we may purchase outstanding Company common stock in open market or privately negotiated transactions over a period of eighteen (18) months through November 3, 2024, in accordance with Company and regulatory policies and trading plans established in accordance with Rules 10b5-1 and 10b-18 of the Securities Exchange Act of 1934. The actual number of shares to be purchased will depend upon market conditions and is subject to available liquidity, general market and economic conditions, alternative uses for the capital and other factors. All shares purchased will be held in the Company’s treasury for possible future use. As of March 31, 2024, Everi had approximately 83.8 million shares issued and outstanding, net of 39.5 million shares held in the Company’s treasury. There is no minimum number of shares that the Company is required to repurchase, and the program may be suspended or discontinued at any time without prior notice. This new repurchase program supersedes and replaces, in its entirety, the previous share repurchase program.
There were no shares repurchased during the three months ended March 31, 2024 and 2023, respectively. Under the share repurchase program, the remaining availability was $80.0 million as of March 31, 2024.
v3.24.1.u1
WEIGHTED AVERAGE SHARES OF COMMON STOCK
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
WEIGHTED AVERAGE SHARES OF COMMON STOCK WEIGHTED AVERAGE SHARES OF COMMON STOCK
The weighted average number of common stock outstanding used in the computation of basic and diluted earnings per share is as follows (in thousands):
 Three Months Ended March 31,
 20242023
Weighted average shares  
Weighted average number of common shares outstanding - basic83,777 88,355 
Potential dilution from equity awards(1)
3,510 6,426 
Weighted average number of common shares outstanding - diluted(1)
87,287 94,781 
(1) There were 1.7 million and 0.1 million shares that were anti-dilutive under the treasury stock method for the three months ended March 31, 2024 and 2023, respectively.
v3.24.1.u1
SHARE-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
Equity Incentive Awards
Generally, we grant the following types of awards: (i) restricted stock units with either time- or performance-based criteria; and (ii) time-based options. We estimate forfeiture amounts based on historical patterns.
A summary of award activity is as follows (in thousands):
Stock Options Restricted Stock Units
Outstanding, December 31, 20234,804 2,464 
Granted— — 
Exercised options or vested shares(81)(27)
Canceled or forfeited— (6)
Outstanding, March 31, 20244,723 2,431 
There were approximately 2.1 million awards of our common stock available for future equity grants under our existing equity incentive plan as of March 31, 2024
v3.24.1.u1
INCOME TAXES
 3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The income tax provision for the three months ended March 31, 2024, reflected an effective income tax rate of 23.5%, which was greater than the statutory federal rate of 21.0%, primarily due to state taxes and a valuation allowance on certain deferred tax assets, partially offset by a research credit. The income tax provision for the three months ended March 31, 2023, reflected an effective income tax rate of 17.6%, which was less than the statutory federal rate of 21.0%, primarily due to a research credit and the benefit from equity award activities, partially offset by state taxes.
We have analyzed our positions in the federal, state and foreign jurisdictions where we are required to file income tax returns, as well as the open tax years in these jurisdictions. As of March 31, 2024, we recorded approximately $4.5 million of unrecognized tax benefits, all of which would impact our effective tax rate, if recognized. We do not anticipate that our unrecognized tax benefits will materially change within the next 12 months.
v3.24.1.u1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-making group (the “CODM”). Our CODM consists of the Chief Executive Officer and the Chief Financial Officer. Our CODM determined that our operating segments for conducting business are: (i) Games and (ii) FinTech. Our CODM allocates resources and measures profitability based on our operating segments, which are managed and reviewed separately, as each represents products and services that can be sold separately to our customers. Our segments are monitored by management for performance against our internal forecasts. We have reported our financial performance based on our segments in both the current and prior periods. Refer to “Note 1 — Business” for additional information regarding our operating segments.
Corporate overhead expenses have been allocated to the segments either through specific identification or based on a reasonable methodology. In addition, we record depreciation and amortization expenses to the business segments.
Our business is predominantly domestic with no specific regional concentrations that were material to our results of operations or financial condition, and no significant assets in foreign locations.
The following tables present segment information (in thousands)*:
 Three Months Ended March 31,
 20242023
Games  
Revenues  
Gaming operations$72,622 $75,309 
Gaming equipment and systems24,500 32,065 
Total revenues97,122 107,374 
Costs and expenses  
Cost of revenues(1)
  
Gaming operations9,515 6,806 
Gaming equipment and systems14,060 20,249 
Total cost of revenues23,575 27,055 
Operating expenses(2)
33,352 20,872 
Research and development11,791 10,653 
Depreciation17,299 16,239 
Amortization11,412 10,276 
Total costs and expenses97,429 85,095 
Operating (loss) income$(307)$22,279 
(1)    Exclusive of depreciation and amortization.
(2)    Includes approximately $14.1 million of transaction costs and approximately $0.7 million of employee retention costs related to the Proposed Transaction.
* Rounding may cause variances.
 Three Months Ended March 31,
 20242023
FinTech  
Revenues  
Financial access services$57,419 $56,214 
Software and other25,776 24,215 
Hardware9,029 12,669 
Total revenues92,224 93,098 
Costs and expenses  
Cost of revenues(1)
  
Financial access services2,697 2,899 
Software and other3,132 1,423 
Hardware6,806 8,448 
Total cost of revenues12,635 12,770 
Operating expenses(2)
40,262 38,320 
Research and development7,519 5,443 
Depreciation2,652 2,710 
Amortization4,097 4,088 
Total costs and expenses67,165 63,331 
Operating income$25,059 $29,767 
(1)    Exclusive of depreciation and amortization.
(2)    Includes approximately $0.3 million of transaction costs and approximately $0.6 million of employee retention costs related to the Proposed Transaction
* Rounding may cause variances.
 At March 31,At December 31,
 20242023
Total assets  
Games$941,907 $931,322 
FinTech1,180,683 1,192,548 
Total assets$2,122,590 $2,123,870 
Major Customers. No single customer accounted for more than 10% of our revenues for the three months ended March 31, 2024 and 2023, respectively. Our five largest customers accounted for approximately 13% and 13% of our revenues for the three months ended March 31, 2024 and 2023, respectively.
v3.24.1.u1
SUBSEQUENT EVENTS
 3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
On May 2, 2024, the Board of Directors canceled the share repurchase program that was authorized on May 3, 2023 for $180.0 million. The Company had repurchased $100.0 million of common shares with $80.0 million remaining available under the share repurchase program.
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pay vs Performance Disclosure    
Net income (loss) $ 4,554 $ 28,066
v3.24.1.u1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.1.u1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
Our Financial Statements included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Some of the information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary for a fair statement of results for the interim periods have been made. The results for the three months ended March 31, 2024 are not necessarily indicative of results to be expected for the full fiscal year. The Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the most recently filed Annual Report on Form 10-K for the year ended December 31, 2023 (the “Annual Report”).
Restricted Cash
Restricted Cash
Our restricted cash primarily consists of: (i) funds held in connection with certain customer agreements; (ii) funds held in connection with a sponsorship agreement; (iii) wide-area progressive (“WAP”)-related restricted funds; and (iv) financial access activities related to cashless balances held on behalf of patrons.
Fair Values of Financial Instruments
Fair Values of Financial Instruments
The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are made at a specific point in time, based upon relevant market information about the financial instrument.
The carrying amount of cash and cash equivalents, restricted cash, settlement receivables, short-term trade and other receivables, settlement liabilities, accounts payable, and accrued expenses approximate fair value due to the short-term maturities of these instruments. The fair value of the long-term trade and loans receivable is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. The fair value of long-term accounts payable is estimated by discounting the total obligation.
Reclassification of Balances
Reclassification of Balances
Certain amounts in the accompanying Financial Statements have been reclassified to be consistent with the current year presentation. These reclassifications had no effect on net income for the prior periods.
Recent Accounting Guidance
Recent Accounting Guidance
Recently Adopted Accounting Guidance
None.
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
The amendments in this update require enhanced reportable segment disclosures, primarily concerning significant segment expenses.
December 31, 2024
We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures; however, we do not expect the impact to be material.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
January 1, 2025
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
As of March 31, 2024, other than what has been described above, we do not anticipate recently issued accounting guidance to have a significant impact on our Financial Statements.
Revenue
Overview
We evaluate the recognition of revenue based on the criteria set forth in Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers and ASC 842 — Leases, as appropriate. We recognize revenue upon transferring control of goods or services to our customers in an amount that reflects the consideration we expect to receive in exchange for those goods or services. We enter into contracts with customers that include various performance obligations consisting of goods, services, or combinations of goods and services. Timing of the transfer of control varies based on the nature of the contract. We recognize revenue net of any sales and other taxes collected from customers, which are subsequently remitted to governmental authorities and are not included in revenues or operating expenses. We measure revenue based on the consideration specified in a contract with a customer and adjusted, as necessary.
Disaggregation of Revenues
We disaggregate revenues based on the nature and timing of the cash flows generated by such revenues as presented in “Note 17 — Segment Information.”
Contract Balances
Since our contracts may include multiple performance obligations, there is often a timing difference between cash collections and the satisfaction of such performance obligations and revenue recognition. Such arrangements are evaluated to determine whether contract assets and liabilities exist. We generally record contract assets when the timing of billing differs from when revenue is recognized due to contracts containing specific performance obligations that are required to be met prior to a customer being invoiced. We generally record contract liabilities when cash is collected in advance of us satisfying performance obligations, including those that are satisfied over a period of time. Balances of our contract assets and contract liabilities may fluctuate due to timing of cash collections.
v3.24.1.u1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Reconciliation of Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Balance Sheets that sum to the total of the same such amounts shown in the Statements of Cash Flows for the three months ended March 31, 2024 (in thousands).
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Cash and cash equivalentsCash and cash equivalents$268,617 $267,215 
Restricted cash - currentPrepaid expenses and other current assets5,327 5,190 
Restricted cash - non-currentOther assets101 101 
Total$274,045 $272,506 
Reconciliation of Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Balance Sheets that sum to the total of the same such amounts shown in the Statements of Cash Flows for the three months ended March 31, 2024 (in thousands).
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Cash and cash equivalentsCash and cash equivalents$268,617 $267,215 
Restricted cash - currentPrepaid expenses and other current assets5,327 5,190 
Restricted cash - non-currentOther assets101 101 
Total$274,045 $272,506 
Estimated Fair Value and Outstanding Balances of Borrowings
The estimated fair value and outstanding balances of our borrowings are as follows (in thousands):
 Level of HierarchyFair ValueOutstanding Balance
March 31, 2024   
$600 million Term Loan
2$583,040 $580,500 
$400 million Unsecured Notes
2$395,500 $400,000 
December 31, 2023   
$600 million Term Loan
2$589,433 $586,500 
$400 million Unsecured Notes
2$365,000 $400,000 
Summary of Recent Accounting Guidance
Recent Accounting Guidance Not Yet Adopted
StandardDescription
Date of Planned Adoption
Effect on Financial Statements
Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
The amendments in this update require enhanced reportable segment disclosures, primarily concerning significant segment expenses.
December 31, 2024
We are currently evaluating the impact of adopting this ASU on our Financial Statements and our disclosures; however, we do not expect the impact to be material.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure
The amendments in this update require enhanced income tax disclosures, primarily concerning the rate reconciliation and income taxes paid information.
January 1, 2025
We are currently evaluating the effect of adopting this ASU on our Financial Statement disclosures.
v3.24.1.u1
REVENUES (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Contract Asset and Liability
The following table summarizes our contract assets and contract liabilities arising from contracts with customers (in thousands):
20242023
Contract assets(1)
Balance, beginning of period$26,635 $22,417 
Balance, end of period31,298 22,342 
         Increase (decrease)$4,663 $(75)
Contract liabilities(2)
Balance, beginning of period$51,799 $53,419 
Balance, end of period56,241 51,705 
         Increase (decrease)$4,442 $(1,714)
(1) Contract assets are included within trade and other receivables, net and other receivables in our Balance Sheets.
(2) Contract liabilities are included within accounts payable and accrued expenses and other accrued expenses and liabilities in our Balance Sheets.
v3.24.1.u1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Balance Sheet Information
Supplemental balance sheet information related to our operating leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Assets
Operating lease right-of-use assets
Other assets, non-current$26,653 $27,489 
Liabilities
Current operating lease liabilitiesAccounts payable and accrued expenses$7,362 $7,079 
Non-current operating lease liabilitiesOther accrued expenses and liabilities$25,973 $26,930 
Cash Flow Information
Supplemental cash flow information related to leases is as follows (in thousands):
Three Months Ended March 31,
20242023
Cash paid for:
Long-term operating leases$1,839 $1,712 
Short-term operating leases$554 $372 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
$671 $86 
Lease Costs
Other information related to lease terms and discount rates is as follows:
At March 31, 2024At December 31, 2023
Weighted Average Remaining Lease Term (in years):
Operating leases6.646.71
Weighted Average Discount Rate:
Operating leases6.15 %6.08 %
Components of lease expense are as follows (in thousands):
Three Months Ended March 31,
20242023
Operating Lease Cost:
Operating lease cost
$1,952 $1,477 
Variable lease cost $340 $319 
Payments Due
Maturities of lease liabilities are summarized as follows as of March 31, 2024 (in thousands):

Year Ending December 31, Amount
2024 (excluding the three months ended March 31, 2024)
$7,124 
2025
8,845 
2026
5,281 
2027
3,217 
2028
2,813 
Thereafter14,520 
Total future minimum lease payments 41,800 
Less: Amount representing interest 8,465 
Present value of future minimum lease payments33,335 
Less: Current operating lease obligations7,362 
Long-term lease obligations$25,973 
Sales-type lease
Supplemental balance sheet information related to our sales-type leases is as follows (in thousands):
Classification on our Balance Sheets
At March 31, 2024
At December 31, 2023
Assets
Net investment in sales-type leases — currentTrade and other receivables, net$821 $810 
v3.24.1.u1
TRADE AND OTHER RECEIVABLES (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Schedule of Components of Trade and Other Receivables
The balance of trade and other receivables consisted of the following (in thousands):
 At March 31,At December 31,
20242023
Trade and other receivables, net  
Games trade and loans receivable$62,083 $66,044 
FinTech trade and loans receivable
44,124 39,795 
Contract assets(1)
31,298 26,635 
Other receivables3,960 4,474 
Total trade and other receivables, net141,465 136,948 
Non-current portion of receivables  
Games trade and loans receivable710 480 
FinTech trade and loans receivable
17,623 15,551 
Contract assets(1)
15,554 12,984 
Total non-current portion of receivables33,887 29,015 
Total trade and other receivables, current portion$107,578 $107,933 
(1) Refer to “Note 3 — Revenues” for a discussion on the contract assets.
Activity in Allowance for Credit Losses
The activity in our allowance for credit losses for the three months ended March 31, 2024 and 2023 is as follows (in thousands):
Three Months Ended March 31,
20242023
Beginning allowance for credit losses$(5,210)$(4,855)
Provision(2,946)(3,078)
Charge-offs, net of recoveries2,923 2,738 
Ending allowance for credit losses$(5,233)$(5,195)
v3.24.1.u1
INVENTORY (Tables)
 3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
Schedule of Components of Inventory
Inventory consisted of the following (in thousands):
 At March 31,At December 31,
 20242023
Inventory  
Component parts$64,774 $59,632 
Work-in-progress1,903 1,147 
Finished goods11,906 9,845 
Total inventory$78,583 $70,624 
v3.24.1.u1
PROPERTY AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Components of Property, Equipment and Leased Assets
Property and equipment consist of the following (in thousands):
  At March 31, 2024At December 31, 2023
Useful Life
(Years)		CostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Property and equipment       
Rental pool - deployed
2-5
$298,714 $203,248 $95,466 $308,438 $218,110 $90,328 
Rental pool - undeployed
2-5
46,114 34,017 12,097 39,578 29,770 9,808 
FinTech equipment
1-5
32,302 22,364 9,938 32,719 21,911 10,808 
Leasehold and building improvements
Lease Term
19,749 5,364 14,385 19,271 4,887 14,384 
Machinery, office, and other equipment
1-5
67,300 38,464 28,836 63,857 36,481 27,376 
Total $464,179 $303,457 $160,722 $463,863 $311,159 $152,704 
v3.24.1.u1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets
Other intangible assets consist of the following (in thousands):
  At March 31, 2024At December 31, 2023
Useful Life
(Years)		CostAccumulated
Amortization		Net Book
Value		CostAccumulated
Amortization		Net Book
Value
Other intangible assets       
Contract rights under placement fee agreements
2-7
$57,821 $23,927 $33,894 $57,821 $21,592 $36,229 
Customer relationships
3-14
337,292 261,025 76,267 337,829 255,972 81,857 
Developed technology and software
1-7
465,925 349,270 116,655 453,453 340,286 113,167 
Patents, trademarks, and other
2-18
24,779 22,219 2,560 24,783 21,898 2,885 
Total$885,817 $656,441 $229,376 $873,886 $639,748 $234,138 
v3.24.1.u1
LONG-TERM DEBT (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Outstanding Indebtedness
The following table summarizes our indebtedness (in thousands):
 MaturityInterestAt March 31,At December 31,
 DateRate20242023
Long-term debt  
$600 million Term Loan
2028
SOFR+2.50%
$580,500 $586,500 
$125 million Revolver
2026
SOFR+2.50%
— — 
Senior Secured Credit Facilities580,500 586,500 
$400 million Unsecured Notes
20295.00%400,000 400,000 
Total debt980,500 986,500 
Debt issuance costs and discount(11,418)(12,035)
Total debt after debt issuance costs and discount
969,082 974,465 
Current portion of long-term debt(1,500)(6,000)
Total long-term debt, net of current portion$967,582 $968,465 
v3.24.1.u1
WEIGHTED AVERAGE SHARES OF COMMON STOCK (Tables)
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Weighted Average Number of Shares
The weighted average number of common stock outstanding used in the computation of basic and diluted earnings per share is as follows (in thousands):
 Three Months Ended March 31,
 20242023
Weighted average shares  
Weighted average number of common shares outstanding - basic83,777 88,355 
Potential dilution from equity awards(1)
3,510 6,426 
Weighted average number of common shares outstanding - diluted(1)
87,287 94,781 
(1) There were 1.7 million and 0.1 million shares that were anti-dilutive under the treasury stock method for the three months ended March 31, 2024 and 2023, respectively.
v3.24.1.u1
SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Award Activity
A summary of award activity is as follows (in thousands):
Stock Options Restricted Stock Units
Outstanding, December 31, 20234,804 2,464 
Granted— — 
Exercised options or vested shares(81)(27)
Canceled or forfeited— (6)
Outstanding, March 31, 20244,723 2,431 
v3.24.1.u1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present segment information (in thousands)*:
 Three Months Ended March 31,
 20242023
Games  
Revenues  
Gaming operations$72,622 $75,309 
Gaming equipment and systems24,500 32,065 
Total revenues97,122 107,374 
Costs and expenses  
Cost of revenues(1)
  
Gaming operations9,515 6,806 
Gaming equipment and systems14,060 20,249 
Total cost of revenues23,575 27,055 
Operating expenses(2)
33,352 20,872 
Research and development11,791 10,653 
Depreciation17,299 16,239 
Amortization11,412 10,276 
Total costs and expenses97,429 85,095 
Operating (loss) income$(307)$22,279 
(1)    Exclusive of depreciation and amortization.
(2)    Includes approximately $14.1 million of transaction costs and approximately $0.7 million of employee retention costs related to the Proposed Transaction.
* Rounding may cause variances.
 Three Months Ended March 31,
 20242023
FinTech  
Revenues  
Financial access services$57,419 $56,214 
Software and other25,776 24,215 
Hardware9,029 12,669 
Total revenues92,224 93,098 
Costs and expenses  
Cost of revenues(1)
  
Financial access services2,697 2,899 
Software and other3,132 1,423 
Hardware6,806 8,448 
Total cost of revenues12,635 12,770 
Operating expenses(2)
40,262 38,320 
Research and development7,519 5,443 
Depreciation2,652 2,710 
Amortization4,097 4,088 
Total costs and expenses67,165 63,331 
Operating income$25,059 $29,767 
(1)    Exclusive of depreciation and amortization.
(2)    Includes approximately $0.3 million of transaction costs and approximately $0.6 million of employee retention costs related to the Proposed Transaction
* Rounding may cause variances.
 At March 31,At December 31,
 20242023
Total assets  
Games$941,907 $931,322 
FinTech1,180,683 1,192,548 
Total assets$2,122,590 $2,123,870 
v3.24.1.u1
BUSINESS (Details)
 3 Months Ended
Mar. 31, 2024
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of operating segments 2
v3.24.1.u1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Cash and Cash Equivalents [Line Items]        
Cash and cash equivalents $ 268,617 $ 267,215    
Restricted Cash, Current, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets Prepaid expenses and other current assets    
Restricted cash - current $ 5,327 $ 5,190    
Restricted Cash, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other assets Other assets    
Restricted cash - non-current $ 101 $ 101    
Total 274,045 272,506 $ 295,703 $ 295,063
Cash and Cash Equivalents        
Cash and Cash Equivalents [Line Items]        
Cash and cash equivalents $ 268,617 $ 267,215    
v3.24.1.u1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Contractual terms of trade and loans receivable 12 months 12 months
v3.24.1.u1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Fair Value and Outstanding Balances of Borrowings (Details) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Aug. 03, 2021
Senior secured notes | New Revolver      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Principal amount of debt $ 600,000,000 $ 600,000,000 $ 600,000,000
Senior unsecured notes | 2021 Unsecured Notes      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Principal amount of debt 400,000,000 400,000,000  
Fair Value | Level 2 | New Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 583,040,000 589,433,000  
Fair Value | Level 2 | Incremental Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 395,500,000 365,000,000  
Outstanding Balance | Level 2 | New Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt 580,500,000 586,500,000  
Outstanding Balance | Level 2 | Incremental Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Long-term debt $ 400,000,000 $ 400,000,000  
v3.24.1.u1
REVENUES - Contract Asset and Liability (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Contract assets    
Balance, beginning of period $ 26,635 $ 22,417
Balance, end of period 31,298 22,342
Increase (decrease) 4,663 (75)
Contract liabilities    
Balance, beginning of period 51,799 53,419
Balance, end of period 56,241 51,705
Increase (decrease) $ 4,442 $ (1,714)
v3.24.1.u1
REVENUES (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Disaggregation of Revenue [Line Items]    
Contract liability, revenue recognized $ 15,900 $ 18,200
Total revenues 189,346 200,472
Games    
Disaggregation of Revenue [Line Items]    
Total revenues 97,122 107,374
Gaming operations, leased equipment | Games    
Disaggregation of Revenue [Line Items]    
Total revenues $ 46,400 $ 49,400
v3.24.1.u1
LEASES - Balance Sheet Information (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other assets Other assets
Operating lease right-of-use assets $ 26,653 $ 27,489
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accounts payable and accrued expenses Accounts payable and accrued expenses
Less: Current operating lease obligations $ 7,362 $ 7,079
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other accrued expenses and liabilities Other accrued expenses and liabilities
Non-current operating lease liabilities $ 25,973 $ 26,930
v3.24.1.u1
LEASES - Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Leases [Abstract]    
Long-term operating leases $ 1,839 $ 1,712
Short-term operating leases 554 372
Right-of-use assets obtained in exchange for lease obligations:    
Operating leases $ 671 $ 86
v3.24.1.u1
LEASES - Lease Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Leases [Abstract]      
Weighted average remaining lease term, operating leases 6 years 7 months 20 days   6 years 8 months 15 days
Weighted average discount rate, operating leases 6.15%   6.08%
Operating lease cost $ 1,952 $ 1,477  
Variable lease cost $ 340 $ 319  
v3.24.1.u1
LEASES - Payments Due (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Amount    
2024 (excluding the three months ended March 31, 2024) $ 7,124  
2025 8,845  
2026 5,281  
2027 3,217  
2028 2,813  
Thereafter 14,520  
Total future minimum lease payments 41,800  
Less: Amount representing interest 8,465  
Present value of future minimum lease payments 33,335  
Less: Current operating lease obligations 7,362 $ 7,079
Long-term lease obligations $ 25,973 $ 26,930
v3.24.1.u1
LEASES - Sales-type Lease (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Net investment in sales-type leases — current $ 821 $ 810
v3.24.1.u1
BUSINESS COMBINATIONS - Narrative (Details)
$ in Thousands, $ in Millions
 3 Months Ended
May 01, 2023
USD ($)
Oct. 14, 2022
USD ($)
Apr. 30, 2022
USD ($)
Mar. 01, 2022
USD ($)
Mar. 01, 2022
AUD ($)
Mar. 31, 2024
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2022
AUD ($)
Feb. 28, 2024
USD ($)
Dec. 31, 2023
USD ($)
Business Acquisition [Line Items]                        
Deferred tax liabilities, net           $ 10,379           $ 13,762
ecash Holdings Pty Limited                        
Business Acquisition [Line Items]                        
Cash consideration paid at closing       $ 15,000 $ 20.0              
Payments for excess net working capital                 $ 6,000 $ 8.7    
Deferred taxes               $ 2,300        
ecash Holdings Pty Limited | Tranche One                        
Business Acquisition [Line Items]                        
Contingent consideration       $ 3,400 $ 5.0              
Contingent consideration, period since closing       1 year 1 year              
ecash Holdings Pty Limited | Tranche Two                        
Business Acquisition [Line Items]                        
Contingent consideration       $ 4,200 $ 6.5              
Contingent consideration, period since closing       2 years 2 years              
Intuicode                        
Business Acquisition [Line Items]                        
Cash consideration paid at closing     $ 12,500                  
Business combination, consideration transferred, liabilities incurred     1,600                  
Final payment and deferred taxes             $ 1,300          
Intuicode | Measurement Input, Discount Rate                        
Business Acquisition [Line Items]                        
Acquired business discount rate           0.05            
Intuicode | Business Combination, Contingent Consideration, Period One                        
Business Acquisition [Line Items]                        
Earn-out liability     $ 6,400                  
Revenue target anniversary     1 year                  
Intuicode | Business Combination, Contingent Consideration, Period Two                        
Business Acquisition [Line Items]                        
Earn-out liability     $ 2,600                  
Revenue target anniversary     2 years                  
Venuetize, Inc.                        
Business Acquisition [Line Items]                        
Cash consideration paid at closing   $ 18,200                    
Earn-out liability   1,800                    
Business combination, consideration transfer   $ 1,000                    
Deferred tax liabilities, net                       $ 1,200
Cash payments, noncurrent, payment period   2 years                    
Venuetize, Inc. | Measurement Input, Discount Rate                        
Business Acquisition [Line Items]                        
Acquired business discount rate           0.07            
Venuetize, Inc. | Business Combination, Contingent Consideration, Period One                        
Business Acquisition [Line Items]                        
Revenue target anniversary   12 months                    
Venuetize, Inc. | Business Combination, Contingent Consideration, Period Two                        
Business Acquisition [Line Items]                        
Revenue target anniversary   24 months                    
Venuetize, Inc. | Business Combination, Contingent Consideration, Period Three                        
Business Acquisition [Line Items]                        
Revenue target anniversary   30 months                    
VKGS LLC                        
Business Acquisition [Line Items]                        
Cash consideration paid at closing $ 61,000                      
Earn-out liability $ 200                      
Revenue target anniversary 18 months                      
Additional net working capital payment           $ 300            
Global Gaming And Play Ditial Business                        
Business Acquisition [Line Items]                        
Transaction costs           14,400            
Employee retention costs           $ 1,300            
Debt Commitment Letter                        
Business Acquisition [Line Items]                        
Principal amount of debt                     $ 3,700,000  
Debt Commitment Revolver                        
Business Acquisition [Line Items]                        
Principal amount of debt                     $ 800,000  
IGT Shareholders | Global Gaming And Play Ditial Business                        
Business Acquisition [Line Items]                        
Ownership percentage                     54.00%  
Everi Exisitng Shareholders | Global Gaming And Play Ditial Business                        
Business Acquisition [Line Items]                        
Ownership percentage                     46.00%  
v3.24.1.u1
BUSINESS COMBINATIONS - Business Acquisition, Prom Forma Information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
USD ($)
Business Combination and Asset Acquisition [Abstract]  
Pro forma revenue $ 207,400
Pro forma net income $ 27,900
v3.24.1.u1
FUNDING AGREEMENTS (Details) - Indemnification Guarantee - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Contract Cash Solutions Agreement      
Funding Agreements      
Cash usage fees incurred $ 4,800,000 $ 4,300,000  
Outstanding balance 319,300,000   $ 388,500,000
Contract Cash Solutions Agreement, as amended      
Funding Agreements      
Maximum amount $ 450,000,000    
Renewal period 1 year    
Non-renewal notice period 90 days    
v3.24.1.u1
TRADE AND OTHER RECEIVABLES - Schedule of Components of Trade and Other Receivables (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Trade and other receivables, net    
Contract assets $ 31,298 $ 26,635
Other receivables 3,960 4,474
Total trade and other receivables, net 141,465 136,948
Non-current portion of receivables 33,887 29,015
Contract assets 15,554 12,984
Total trade and other receivables, current portion 107,578 107,933
Gaming operations    
Trade and other receivables, net    
Trade receivables, net 62,083 66,044
Non-current portion of receivables 710 480
FinTech    
Trade and other receivables, net    
Trade receivables, net 44,124 39,795
Non-current portion of receivables $ 17,623 $ 15,551
v3.24.1.u1
TRADE AND OTHER RECEIVABLES - Activity in Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning allowance for credit losses $ (5,210) $ (4,855)
Provision (2,946) (3,078)
Charge-offs, net of recoveries 2,923 2,738
Ending allowance for credit losses $ (5,233) $ (5,195)
v3.24.1.u1
INVENTORY (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Inventory    
Component parts $ 64,774 $ 59,632
Work-in-progress 1,903 1,147
Finished goods 11,906 9,845
Total inventory $ 78,583 $ 70,624
v3.24.1.u1
PROPERTY AND EQUIPMENT - Schedule of Components of Property, Equipment and Leased Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Cost $ 464,179   $ 463,863
Accumulated Depreciation 303,457   311,159
Net Book Value 160,722   152,704
Depreciation 19,951 $ 18,949  
Rental pool - deployed      
Property, Plant and Equipment [Line Items]      
Cost 298,714   308,438
Accumulated Depreciation 203,248   218,110
Net Book Value $ 95,466   90,328
Rental pool - deployed | Minimum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 2 years    
Rental pool - deployed | Maximum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 5 years    
Rental pool - undeployed      
Property, Plant and Equipment [Line Items]      
Cost $ 46,114   39,578
Accumulated Depreciation 34,017   29,770
Net Book Value $ 12,097   9,808
Rental pool - undeployed | Minimum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 2 years    
Rental pool - undeployed | Maximum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 5 years    
Machinery, office, and other equipment      
Property, Plant and Equipment [Line Items]      
Cost $ 67,300   63,857
Accumulated Depreciation 38,464   36,481
Net Book Value $ 28,836   27,376
Machinery, office, and other equipment | Minimum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 1 year    
Machinery, office, and other equipment | Maximum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 5 years    
Leasehold and building improvements      
Property, Plant and Equipment [Line Items]      
Cost $ 19,749   19,271
Accumulated Depreciation 5,364   4,887
Net Book Value 14,385   14,384
FinTech      
Property, Plant and Equipment [Line Items]      
Depreciation 2,652 $ 2,710  
FinTech | Machinery, office, and other equipment      
Property, Plant and Equipment [Line Items]      
Cost 32,302   32,719
Accumulated Depreciation 22,364   21,911
Net Book Value $ 9,938   $ 10,808
FinTech | Machinery, office, and other equipment | Minimum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 1 year    
FinTech | Machinery, office, and other equipment | Maximum      
Property, Plant and Equipment [Line Items]      
Useful Life (Years) 5 years    
v3.24.1.u1
GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
Goodwill $ 737,147   $ 737,804
Amortization $ 15,509 $ 14,364  
v3.24.1.u1
GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Cost $ 885,817 $ 873,886
Accumulated Amortization 656,441 639,748
Net Book Value 229,376 234,138
Contract rights under placement fee agreements    
Finite-Lived Intangible Assets [Line Items]    
Cost 57,821 57,821
Accumulated Amortization 23,927 21,592
Net Book Value $ 33,894 36,229
Contract rights under placement fee agreements | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 2 years  
Contract rights under placement fee agreements | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 7 years  
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Cost $ 337,292 337,829
Accumulated Amortization 261,025 255,972
Net Book Value $ 76,267 81,857
Customer relationships | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 3 years  
Customer relationships | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 14 years  
Developed technology and software    
Finite-Lived Intangible Assets [Line Items]    
Cost $ 465,925 453,453
Accumulated Amortization 349,270 340,286
Net Book Value $ 116,655 113,167
Developed technology and software | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 1 year  
Developed technology and software | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 7 years  
Patents, trademarks, and other    
Finite-Lived Intangible Assets [Line Items]    
Cost $ 24,779 24,783
Accumulated Amortization 22,219 21,898
Net Book Value $ 2,560 $ 2,885
Patents, trademarks, and other | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 2 years  
Patents, trademarks, and other | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (Years) 18 years  
v3.24.1.u1
LONG-TERM DEBT - Schedule of Outstanding Indebtedness (Details) - USD ($)
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Aug. 03, 2021
Debt Instrument [Line Items]      
Total debt $ 980,500,000 $ 986,500,000  
Debt issuance costs and discount (11,418,000) (12,035,000)  
Total debt after debt issuance costs and discount 969,082,000 974,465,000  
Current portion of long-term debt (1,500,000) (6,000,000)  
Total long-term debt, net of current portion 967,582,000 968,465,000  
Senior secured notes | New Revolver      
Debt Instrument [Line Items]      
Principal amount of debt $ 600,000,000 600,000,000 $ 600,000,000
Senior secured notes | New Revolver | Secured Overnight Financing Rate (SOFR)      
Debt Instrument [Line Items]      
Basis spread 2.50%    
Revolving credit facility | New Revolver      
Debt Instrument [Line Items]      
Total debt $ 0 0  
Principal amount of debt $ 125,000,000    
Revolving credit facility | New Revolver | Secured Overnight Financing Rate (SOFR)      
Debt Instrument [Line Items]      
Basis spread 2.50%    
Senior secured notes      
Debt Instrument [Line Items]      
Total debt $ 580,500,000 586,500,000  
Senior secured notes | Senior secured notes | New Revolver      
Debt Instrument [Line Items]      
Total debt 580,500,000 586,500,000  
Senior unsecured notes | 2021 Unsecured Notes      
Debt Instrument [Line Items]      
Total debt 400,000,000 400,000,000  
Principal amount of debt $ 400,000,000 $ 400,000,000  
Interest rate 5.00%    
v3.24.1.u1
LONG-TERM DEBT - Narrative (Details)
 3 Months Ended
Aug. 03, 2021
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Senior unsecured notes | FinTech Segment      
Debt Instrument [Line Items]      
Principal amount of debt   $ 400,000,000  
New Credit Facilities      
Debt Instrument [Line Items]      
Basis spread, period one (as a percent) 0.10%    
Basis spread, period two (as a percent) 0.30%    
Basis spread, period three (as a percent) 0.40%    
New Credit Facilities | Secured Overnight Financing Rate (SOFR)      
Debt Instrument [Line Items]      
Floor interest rate 0.50%    
Basis spread 2.50%    
New Credit Facilities | Base Rate      
Debt Instrument [Line Items]      
Basis spread 1.50%    
2017 Unsecured Notes | Senior unsecured notes      
Debt Instrument [Line Items]      
Interest rate   5.00%  
Senior secured notes | New Revolver      
Debt Instrument [Line Items]      
Debt term 7 years    
Principal amount of debt $ 600,000,000 $ 600,000,000 $ 600,000,000
Percentage of par amount issued 0.9975    
Senior secured notes | New Revolver | Secured Overnight Financing Rate (SOFR)      
Debt Instrument [Line Items]      
Basis spread   2.50%  
Revolving credit facility | New Revolver      
Debt Instrument [Line Items]      
Principal amount of debt   $ 125,000,000  
Maximum borrowing capacity $ 125,000,000    
Revolving credit facility | New Revolver | Secured Overnight Financing Rate (SOFR)      
Debt Instrument [Line Items]      
Basis spread   2.50%  
Senior secured term loan facility | New Credit Agreement, dated May 9, 2017      
Debt Instrument [Line Items]      
Weighted average interest rate during period   7.95%  
v3.24.1.u1
STOCKHOLDERS' EQUITY (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
May 03, 2023
Stockholders' Equity Note [Abstract]      
Stock repurchase program, authorized amount     $ 180.0
Stock repurchase program, period in force 18 months    
Common stock issued (in shares) 83,800,000    
Common stock outstanding (in shares) 83,836,000 83,738,000  
Treasury stock (in shares) 39,451,000 39,441,000  
Treasury stock acquired (in shares) 0    
Stock repurchase program, remaining authorized repurchase amount $ 80.0    
v3.24.1.u1
WEIGHTED AVERAGE SHARES OF COMMON STOCK - Schedule of Weighted Average Number of Shares (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Weighted average shares    
Weighted average number of common shares outstanding - basic (in shares) 83,777 88,355
Potential dilution from equity awards (in shares) 3,510 6,426
Weighted average number of common shares outstanding - diluted (in shares) 87,287 94,781
Anti-dilutive equity awards excluded from computation of earnings per share (in shares) 1,700 100
v3.24.1.u1
SHARE-BASED COMPENSATION - Summary of Award Activity (Details)
shares in Thousands
 3 Months Ended
Mar. 31, 2024
shares
Stock Options  
Stock Options  
Outstanding (in shares) 4,804
Granted (in shares) 0
Exercised options (in shares) (81)
Canceled or forfeited (in shares) 0
Outstanding (in shares) 4,723
Restricted Stock Units  
Restricted Stock Units  
Outstanding (in shares) 2,464
Granted (in shares) 0
Vested (in shares) (27)
Canceled or forfeited (in shares) (6)
Outstanding (in shares) 2,431
Common Stock  
Restricted Stock Units  
Number of shares available for grant (in shares) 2,100
v3.24.1.u1
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Tax Disclosure [Abstract]    
Effective income tax rate 23.50% 17.60%
Statutory federal rate 21.00% 21.00%
Unrecognized tax benefits $ 4.5  
v3.24.1.u1
SEGMENT INFORMATION - Revenues, Operating Income, and Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Revenues      
Total revenues $ 189,346 $ 200,472  
Costs and expenses      
Operating expenses 73,614 59,192  
Research and development 19,310 16,096  
Depreciation 19,951 18,949  
Amortization 15,509 14,364  
Total costs and expenses 164,594 148,426  
Operating (loss) income 24,752 52,046  
Total assets      
Total assets 2,122,590   $ 2,123,870
Games      
Revenues      
Total revenues 97,122 107,374  
Costs and expenses      
Total cost of revenues 23,575 27,055  
Operating expenses 33,352 20,872  
Research and development 11,791 10,653  
Depreciation 17,299 16,239  
Amortization 11,412 10,276  
Total costs and expenses 97,429 85,095  
Operating (loss) income (307) 22,279  
Total assets      
Total assets 941,907   931,322
Transaction costs 14,100    
Employee retention costs 700    
Games | Gaming operations      
Revenues      
Total revenues 72,622 75,309  
Costs and expenses      
Total cost of revenues 9,515 6,806  
Games | Gaming equipment and systems      
Revenues      
Total revenues 24,500 32,065  
Costs and expenses      
Total cost of revenues 14,060 20,249  
FinTech      
Revenues      
Total revenues 92,224 93,098  
Costs and expenses      
Total cost of revenues 12,635 12,770  
Operating expenses 40,262 38,320  
Research and development 7,519 5,443  
Depreciation 2,652 2,710  
Amortization 4,097 4,088  
Total costs and expenses 67,165 63,331  
Operating (loss) income 25,059 29,767  
Total assets      
Total assets 1,180,683   $ 1,192,548
Transaction costs 300    
Employee retention costs 600    
FinTech | Financial access services      
Revenues      
Total revenues 57,419 56,214  
Costs and expenses      
Total cost of revenues 2,697 2,899  
FinTech | Software and other      
Revenues      
Total revenues 25,776 24,215  
Costs and expenses      
Total cost of revenues 3,132 1,423  
FinTech | Hardware      
Revenues      
Total revenues 9,029 12,669  
Costs and expenses      
Total cost of revenues $ 6,806 $ 8,448  
v3.24.1.u1
SEGMENT INFORMATION - Major Customers (Details)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Five largest customers | Customer risk | Revenue from Contract with Customer    
Revenue, Major Customer [Line Items]    
Concentration risk, percentage 13.00% 13.00%
v3.24.1.u1
SUBSEQUENT EVENTS (Details) - USD ($)
$ in Millions
 12 Months Ended
May 02, 2024
Mar. 31, 2024
May 03, 2023
Subsequent Event [Line Items]      
Stock repurchase program, authorized amount     $ 180.0
Stock repurchase program, remaining authorized repurchase amount   $ 80.0  
Subsequent Event      
Subsequent Event [Line Items]      
Repurchase of shares $ 100.0    
Stock repurchase program, remaining authorized repurchase amount $ 80.0